Geode Capital Management LLC Has $71.28 Million Stake in Acadia Realty Trust (NYSE:AKR)

Geode Capital Management LLC lifted its stake in shares of Acadia Realty Trust (NYSE:AKR - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,949,612 shares of the real estate investment trust's stock after purchasing an additional 308,117 shares during the period. Geode Capital Management LLC owned 2.47% of Acadia Realty Trust worth $71,278,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AKR. Vanguard Group Inc. lifted its stake in Acadia Realty Trust by 8.8% in the fourth quarter. Vanguard Group Inc. now owns 18,097,268 shares of the real estate investment trust's stock valued at $437,230,000 after acquiring an additional 1,459,448 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Acadia Realty Trust by 11.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,150,584 shares of the real estate investment trust's stock valued at $51,958,000 after purchasing an additional 219,983 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Acadia Realty Trust by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,110,758 shares of the real estate investment trust's stock worth $26,836,000 after purchasing an additional 56,614 shares during the period. Barclays PLC increased its position in Acadia Realty Trust by 11.8% during the third quarter. Barclays PLC now owns 776,869 shares of the real estate investment trust's stock worth $18,240,000 after buying an additional 81,853 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Acadia Realty Trust by 16.9% in the fourth quarter. Principal Financial Group Inc. now owns 654,000 shares of the real estate investment trust's stock valued at $15,801,000 after buying an additional 94,565 shares during the period. Institutional investors and hedge funds own 97.65% of the company's stock.

Wall Street Analyst Weigh In

Separately, Truist Financial raised Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 target price on the stock in a report on Thursday, April 10th.

Acadia Realty Trust Stock Performance

AKR stock traded up $0.31 during mid-day trading on Thursday, hitting $19.61. 187,758 shares of the company were exchanged, compared to its average volume of 1,046,304. Acadia Realty Trust has a 1-year low of $16.14 and a 1-year high of $26.29. The business has a 50 day simple moving average of $21.46 and a 200-day simple moving average of $23.17. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $2.35 billion, a PE ratio of 108.93, a price-to-earnings-growth ratio of 6.09 and a beta of 1.24.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. On average, equities analysts forecast that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 31st. This is an increase from Acadia Realty Trust's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 4.08%. Acadia Realty Trust's dividend payout ratio is 444.44%.

Insider Buying and Selling

In related news, EVP Jason Blacksberg sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.83% of the stock is owned by insiders.

Acadia Realty Trust Profile

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio and Fund operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation's most dynamic corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.